An Israeli buyer (right) negotiates toy purchases with a vendor at the Yiwu International Trade Market in Jinhua, Zhejiang province, on Jan 2. [Photo/IC]

The Regional Comprehensive Economic Partnership entered its fifth year of implementation on Jan 1, with Zhejiang enterprises accelerating efforts to expand overseas markets by leveraging tariff cuts and trade facilitation under the pact.

According to Hangzhou Customs, the agency had issued 295,000 RCEP certificates of origin as of November 2025, covering exports worth 80.69 billion yuan ($11.55 billion). The certificates enable exporters to claim reduced tariffs when shipping goods to other RCEP member economies.

Certificates issued by Hangzhou Customs rose from 52,800 in 2022 to 87,100 in the first 11 months of 2025. Over the same period, the number of companies applying for RCEP certificates in the customs jurisdiction increased from just over 2,300 to nearly 3,200. Plastic products, textiles and apparel, and chemical goods were among the sectors benefiting most from the preferential arrangements.

Beyond manufacturers, trading hubs have also felt the impact. In Yiwu, a global center for small commodity trade, exporters of garments, toys, and daily-use goods have seen many shipments to RCEP markets qualify for tariff reductions.

The agreement has also encouraged companies to adopt more flexible compliance tools. Institutional innovations under RCEP allow qualified exporters to issue their own declarations of origin, reducing reliance on case-by-case certification and shortening processing times.

Terumo Medical Products (Hangzhou) has made active use of this mechanism. Zhu Fangfei, the company's customs affairs manager, said it issued declarations of origin for more than 170 batches of goods in 2025.

She added that self-issued declarations allow firms to better align production schedules with export plans, while also enhancing credibility with international clients.